Once touted by its developer as the centerpiece to creating a Kirkland styled neighborhood on the Kitsap Peninsula, The 400, is now heading to the auction block. According the the Kitsap Sun, starting bids will be nearly 60% below the list price. A 577 sq ft one-bedroom unit listed at $259,000 will be offered at a $109,000 starting bid, while a 1,729 sq ft unit listed at $919,000 will start at just $409,000.  Lots are subject to reserve pricing.

Twenty-eight units will be available for auction on April 20th at the Kitsap Conference Center. More info on the auction is available on the REDC website.

Luckily for the original developer, he sold the project to a California firm before the project was built. Apparently, he’s still sold on Bremerton’s condo market as the Sun reported that he “plans to build another condominium development on the waterfront, at 105 units, called The 600.”